The global allergen free food market size is anticipated to reach US$ 75.67 Bn by the end of 2030. According to a study by Future Market Insights (FMI), the market is expected to depict a strong positive growth trajectory at 9.0% CAGR between 2020 and 2030. As per FMI report, the global allergen free food market is estimated to surpass the valuation of US$ 46.4 Bn by the end of 2020. The industry is well positioned to register at least 4% higher growth rate than the overall food & beverage sector. The combined attribute of behemoth size and rapid growth has captivated leading companies in global food & beverages sector as well as new entrants. This has created perplexed consumer preferences, and brands experience challenge in creating a differentiator in the global allergen free food market. To Get Sample Copy of Report visit @ https://www.futuremarketinsights.com/reports/sample/rep-gb-11688 It includes in-depth insights into the allergen free food market. Some of these are:
The estimated value of the market was at US$ 31,967.7 Mn in 2020. Through the course of the report’s forecast period, the market is projected to show an exceptional pace of growth.
North America accounts for a dominant share in the allergen free food market. Europe also holds a sizable market share. East Asia is bound to offer business opportunities to emerging market players.
Key players are likely to focus on product innovations and manufacturing technologies to widen their reach in emerging markets.
Digital advertising and adoption of online sales channel to attract the millennial and Gen Z consumers are some of the key strategies of market players.
“The demand for allergen free food is expected to rise amidst the COVID-19 outbreak as consumers are striving to maintain a strong immunity to tackle the disease. Furthermore, revival of world economy would also result in increase of per capita income, which in turn will give impetus to market,” said a lead analyst at FMI. Growing Health and Wellness Trend and Rise in Food Fortification will Drive Growth Consumers have become quite health conscious and majority of them spend a significant portion of their disposable income on fitness and well-being. They have also become increasingly aware that along with exercise, a proper diet is necessary to achieve physical fitness. Food fortification is enrichment of everyday foods with essential proteins, vitamins, and minerals. Consumer preference for such foods is a result of various factors such as rising incidence of lifestylerelated diseases and weight management. High protein foods aid in maintaining consumer health. Gluten-free bakery products and snacks comprising protein and vitamin ingredients are gaining popularity among consumers. Thus, the trend food fortification is rising, which will in turn support the expansion of the allergen free food market. The demand for organic food products is rising at a higher pace than supply, creating a gap between the demand and supply of organic food. Consumers are looking for produced without the use of any kind of fertilizers, pesticides, and chemical processing. Such farming and manufacturing practices are linked to deterioration of human health and environment.